3. Resistance To Innovation: Intellectual Property - Deepstash

3. Resistance To Innovation: Intellectual Property

3. Resistance To Innovation: Intellectual Property

3. Resistance To Innovation: Intellectual Property

  • The justification for intellectual property- patents and copyright is that it is necessary to encourage investment and innovation. The trouble is, the evidence clearly shows that while intellectual property helps a little, it also hinders and the net effect is to discourage innovation.
  • A further problem is that patents undoubtedly raise the cost of goods. This slows down the development and spread of innovation. 
  • Finally, patents tend to favour inventions rather than innovations: upstream discoveries of principles, rather than a downstream adaptation of devices to the market. 

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